Equipment Breakdown Insurance may be applicable in the event of short circuits, power surges, operator error, mechanical breakdown, motor burnout, and/or electrical arching and boiler damage.
Great American's Alternative Markets Division has joined with Hartford Steam Boiler Inspection and Insurance Company (HSB), to offer this optional coverage to your commercial insurance clients as part of our package insurance policy. Some of the valuable coverages provided by this insurance solution include:
- Direct damage to many unique forms of equipment, e.g., electronic, technological, electrical, refrigeration, controls in addition to boilers and pressure vessels.
- Expenses incurred to limit the loss or speed the business restoration.
- Lost value of spoiled products or materials.
Equipment Breakdown coverage includes mandatory inspection of boilers and pressure vessels (required by many state and local governments) performed by commissioned inspectors.